Thursday, January 21, 2010

Measures 66 & 67 a must read

Medford Fuel--

Medford fuel on their web site published their opinion on how measure 66 and 67 will affect their business and their customers.
With all the confusing information in the Media about these measures, Medford Fuel wanted to give you an actual example of how our business will be affected if Measures 66 & 67 pass.

Our “big, greedy corporation” directly employs six people, and creates jobs for another several dozen individuals ranging from truck drivers to accountants. We’re not sure what currency the “Yes on 67” folks are using when they say we only pay $10 in taxes, but in U.S. dollars, last year the business activity of our corporation generated over $1,200,000 in fuel taxes for the federal government, $700,000 for the State of Oregon, $16,000 in environmental protection taxes, $91,000 in Oregon and Federal payroll taxes, $22,000 in Federal income taxes, and $4300 in Oregon excise taxes. The wages we paid our employees generated another $35,000 in Federal income taxes and $21,000 in Oregon income taxes, and the earnings paid to contractors, truck drivers, and others employed as a direct result of our business created at least another $50,000 in taxes for the State of Oregon and the Federal government. After taxes, the corporation cleared just over $70,000 profit to reinvest in growing the business and providing new jobs in our community, less than the average salary and benefits package of just one typical State of Oregon management employee.

To summarize, last year our company was directly responsible for providing over 2 million dollars in taxes to the State of Oregon and the Federal Government…roughly $28.50 in tax revenue for the Government for every $1 in profit made by the corporation…and that is in a profitable year. Some years we make a profit, and some have a loss. What is disgusting about these measures is that, if they pass, we will pay an additional $15,000 in taxes, even in years that we have a loss. This is because the tax will be based not on whether we made a profit for the year, but rather, on our gross sales (before any expenses, taxes or payroll are taken out). The measure actually requires us to pay this additional tax on the $2 million in taxes we have already paid out of our sales for the year!" {More...}

I agree with them 1000%. any increase in company overhead will be PASSED ON TO THEIR CUSTOMERS (that's us people) and what the proponents of measure 66 & 67 are trying to do is to try and convince you that these big bad companies are getting away with not paying their fair share.

THE $10 MINIMUM CORPORATE TAX is the scare words that they are using to get you to vote in favor of these NEW taxes. Just like they are also using or threatening that if these measures do not pass, it will effect the schools, public safety, etc. the same old BS.

But like Medford Fuel correctly states, corporations and businesses in Oregon pay a huge amount money in taxes as it is. Even Phil Knight is starting to complain about how unfriendly Oregon is to business.

In my opinion, Oregon does not need any more taxes in this recession... they need to tighten their belts, reevaluate their priorities in spending and get the economy back on track and the money will follow.


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